After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2020, unadjusted trial balance of Business Solutions follows. Required 1. Prepare journal entries to record each of the December transactions and erents for Business Solutions. Post those entries to the accounts in the ledger. 2. Prepare adjusting entries to reflect a through f. Post those entries to the accounts in the ledger. 3. Prepare an adjusted trial balance as of December 31,2020. 4. Prepare an income statement for the three months ended December 31, 2020. 5. Prepare a statement of retained earnings for the three months ended December 31,2020. 6. Prepare a balance sheet as of December 31,2020 . 7. Record and post the necessary closing entries as of December 31,2020. 8. Prepare a post-closing trial balance as of December 31,2020. Check (3) Acjusted trial balance totas: 509034 (6) Total assets, 583,460 (B) Post-cosing tial oslance totas. $85.110 Business Solutions had the folloring transactions and erents in December 2020. Dec. 2 Paid \$1,02j cash to Hillside Mall for Business Solutions's share of mall adrertising costs. 3 Paid \$50o cash for minor repairs to the company's computer. 4 Received 83,950 cash from Aler's Engineering Co. for the receirible from November. 10 Paid cash to Lyn. Addie for six days of work at the rate of $125 per day. 14 Notified by Alex's Engineering Co that Business Solutions's bid of $7,000 on a proposed project has been accepted. Alex's paid a S1, 000 cash adrance to Business Solutions. 15 Purchased S1,100 of computer supplies on credit tom Harris Office Products. 16 Sent a reminder to Gomez C0, to pay the fee for services recorded on November 8 . 20 Completed a project for Lin Corporation and received 85,625 cash. 22-26 Took the week off for the holidars. 28 Received $3,000 cash from Gomez Co. on its receirable. 29 Reimbursed S. Rey for business automobile mileage ( 600 miles at $0.32 per mile). 31. The company paid \$1,500 cash in dindends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months. a. The December 31 inventory count of computer supplies shows $580 still available. b. Three months have expired since the 12-month insuranee premium was paid in adrances. c. As of December 31, Lyn Addie has not been paid for four days of work at $125 per day. d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage ralue. e. The office equipment, acquired on October 1 , is expected to have a fre-year life with no salvage ralue. f. Three of the four months preppaid rent have expired